FGD: what changed
Two fiscal years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
FGD
Largest movements
- Financial fixed assets +€1.2m
up €1.2m (+70.0%), from €1.7m to €2.9m
- Receivables within one year -€496,276
down €496,276 (-7.5%), from €6.6m to €6.1m
of which Other amounts receivable: -€490,928
- Cash -€180,041
down €180,041 (-91.2%), from €197,372 to €17,331
mainly Investment in fixed assets (net) (-€1.2m) and Other debts (-€702,917)
- Profit (loss) carried forward +€1.1m
up €1.1m (+17.5%), from €6.3m to €7.4m
- Other debts -€702,917
down €702,917 (-35.0%), from €2.0m to €1.3m
- Financial income +€660,285
up €660,285 (+78.6%), from €839,746 to €1.5m
of which Non-recurring financial income: +€660,251
- Financial charges +€133,149
up €133,149 (+595.7%), from €22,350 to €155,499
of which Non-recurring financial charges: +€116,370
- Gross operating margin +€51,701
up €51,701 (+35.1%), from -€147,171 to -€95,471
- Depreciation -€6,038
down €6,038 (-4.3%), from €142,071 to €136,033
- Other operating charges +€5,350
up €5,350 (+368.9%), from €1,450 to €6,801
From the 2023 result to the 2024 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €8,954,981 | €9,385,030 | +€430,049 | +4.8% |
| Fixed assets | 21/28 | €2,151,111 | €3,257,478 | +€1.1m | +51.4% |
| Intangible fixed assets | 21 | €461,628 | €385,595 | -€76,033 | -16.5% |
| Financial fixed assets | 28 | €1,689,484 | €2,871,883 | +€1.2m | +70.0% |
| Current assets | 29/58 | €6,803,870 | €6,127,552 | -€676,318 | -9.9% |
| Amounts receivable within one year | 40/41 | €6,606,498 | €6,110,221 | -€496,276 | -7.5% |
| Trade receivables | 40 | €211,348 | €206,000 | -€5,348 | -2.5% |
| Other amounts receivable | 41 | €6,395,149 | €5,904,221 | -€490,928 | -7.7% |
| Cash at bank and in hand | 54/58 | €197,372 | €17,331 | -€180,041 | -91.2% |
| Total equity and liabilities | 10/49 | €8,954,981 | €9,385,030 | +€430,049 | +4.8% |
| Equity | 10/15 | €6,338,464 | €7,442,493 | +€1.1m | +17.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €6,318,004 | €7,422,033 | +€1.1m | +17.5% |
| Amounts payable | 17/49 | €2,616,517 | €1,942,537 | -€673,981 | -25.8% |
| Amounts payable within one year | 42/48 | €2,616,517 | €1,942,537 | -€673,981 | -25.8% |
| Trade debts | 44 | €610,043 | €638,980 | +€28,936 | +4.7% |
| Suppliers | 440/4 | €610,043 | €638,980 | +€28,936 | +4.7% |
| Taxes, remuneration and social security | 45 | €133 | €133 | = | 0.0% |
| Taxes | 450/3 | €133 | €133 | = | 0.0% |
| Other amounts payable | 47/48 | €2,006,341 | €1,303,424 | -€702,917 | -35.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €142,071 | €136,033 | -€6,038 | -4.3% |
| Other operating charges | 640/8 | €1,450 | €6,801 | +€5,350 | +368.9% |
| Non-recurring operating charges | 66A | - | €570 | +€570 | |
| Gross operating margin | 9900 | -€147,171 | -€95,471 | +€51,701 | +35.1% |
| Operating profit (loss) | 9901 | -€290,693 | -€238,874 | +€51,819 | +17.8% |
| Financial income | 75/76B | €839,746 | €1,500,032 | +€660,285 | +78.6% |
| Recurring financial income | 75 | €6 | €41 | +€34 | +546.5% |
| Non-recurring financial income | 76B | €839,740 | €1,499,991 | +€660,251 | +78.6% |
| Financial charges | 65/66B | €22,350 | €155,499 | +€133,149 | +595.7% |
| Recurring financial charges | 65 | €22,350 | €39,129 | +€16,779 | +75.1% |
| Non-recurring financial charges | 66B | - | €116,370 | +€116,370 | |
| Profit (loss) for the period before taxes | 9903 | €526,703 | €1,105,659 | +€578,956 | +109.9% |
| Income taxes | 67/77 | €70 | €1,629 | +€1,559 | +2231.0% |
| Profit (loss) for the period | 9904 | €526,633 | €1,104,030 | +€577,397 | +109.6% |
| Profit (loss) for the period to be appropriated | 9905 | €526,633 | €1,104,030 | +€577,397 | +109.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.